Economic Globalization and Nigeria’s Natural Resources: Issues and Prospects

Nwoye Joseph Chibueze and Babatimehin Elizabeth Eyitomilayo

Faculty of Management and Social Sciences, Department of Political Science Tansian University, Umunya

Email: Josephnwoye90@gmail.com

ABSTRACT

Nigeria as a part of the international community is not shielded from the effects of economic globalization. This paper examines the interface between globalization and natural resources in Nigeria. The subjugation of the rights of the oil producing communities by the State – Global Oil Alliance have produced contradictions leading to cyclical poverty, environmental degradation, unemployment, negative transformation of the peasant economy, frustration and conflict. Pinning the discourse within the Economic Penetration and Integration Theory, the paper opined that the environmental conflicts in the Niger Delta as a result of the natural deposit in the area is directly linked to the presence of global actors in the region, the integration of the communities via oil production into global economic system with daunting negative effects. It argues that although globalization presents many opportunities, it exposes comparatively backward nations to many challenges. The paper suggests a revitalization of local economies and proactive measures in engaging the problems of environmental degradation. This will improve agricultural productivity, employment and restore peace.

Keywords: Economy, Globalization, Resources, Natural, Nigeria

CITE AS: Nwoye Joseph Chibueze and Babatimehin Elizabeth Eyitomilayo (2025). Economic Globalization and Nigeria’s Natural Resources: Issues and Prospects. NEWPORT INTERNATIONAL JOURNAL OF CURRENT RESEARCH IN HUMANITIES AND SOCIAL SCIENCES,5(3):74-84 https://doi.org/10.59298/NIJCRHSS/2025/5.3.748400